Notice Date: November 29, 2001
Effective Date: December 13, 2001
To increase the security of the PayPal system, effective 12/13/2001, members will be required to have a credit card or confirmed bank account with PayPal before they can send any payments, even if they have funds in their PayPal account.


If this means what I think it means, I will be removing Paypal as a payment option as this will cause too much hassles for people trying to pay for hosting who aren't already paypal customers.

Maybe paypaldamon can clarify this issue some as I currently use Paypal for a majority of my billing.

What about customers who don't have a credit card?

I have some who use this option for the mere fact they don't have one and have fund put into their paypal account from their bank so they can pay for online purchases, dumb, dumb, dumb move by paypal.

I have to agree that this is a rather irritating requirement, but we shouldn't blame Paypal for this. I have no doubt that this was an edict from the FBI/CIA to help them "track terrorist funds". It's much easier to work out who is sending money to whom if you have confirmed credit cards or bank accounts attached to each account.

I can see one or the other but both?

It only requires a Bank account OR CC. But either way... if they don't have a CC, it will take at least 3 days for them to get their account approved... and you will most likely lose customers with this.

I'm not sure how they verify CCs, but that can be done relatively easy without problems for the customer.

This is pretty reasonable. They don't want ANYONE opening a PayPal account, and then getting money inot it and sending it out without some sort of verification.